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San Diego, California-based QUALCOMM Incorporated (QCOM) operates as a multinational semiconductor and telecommunications equipment company. With a market cap of $132.4 billion, the company develops and delivers digital wireless communications products and services based on CDMA digital technology. The semiconductor and equipment giant is expected to announce its fiscal second-quarter earnings for 2026 on Wednesday, Apr. 29.
Ahead of the event, analysts expect QCOM to report a profit of $1.90 per share on a diluted basis, down 19.2% from $2.35 per share in the year-ago quarter. The company has surpassed or met Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect QCOM to report EPS of $8.35, down 17.1% from $10.07 in fiscal 2025. Its EPS is expected to decline marginally year over year to $8.31 in fiscal 2027.
QCOM stock has underperformed the S&P 500 Index’s ($SPX) 36.1% gains over the past 52 weeks, with shares up 2.3% during this period. Similarly, it underperformed the State Street Technology Select Sector SPDR ETF’s (XLK) 57.7% returns over the same time frame.
QCOM's underperformance can be attributed to the global memory shortage, a factor beyond their control. The unavailability of memory chips is hindering smartphone manufacturers from procuring QCOM's processors, thereby impacting its sales.
Analysts’ consensus opinion on QCOM stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 33 analysts covering the stock, 10 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” 18 give a “Hold,” two advocate a “Moderate Sell,” and two recommend a “Strong Sell.” QCOM’s average analyst price target is $158.96, indicating a potential upside of 24.7% from the current levels.
